IsDB leads multilateral development banks group in $300-$400bn lending boost target RIYADH: A group of elite financial institutions, led by the Islamic Development Bank, is aiming to increase its lending margin by $300-$400 billion over the next decade to reduce global inequalities. The announcement came after presidents of ten multilateral development banks met in Washington, D.C., to … Read more
RIYADH: The historic town of Diriyah has been transformed into a festive wonderland as the Diriyah Gate Development Authority has revealed an exciting lineup of events and activities for residents and visitors to celebrate this year’s Eid Al-Fitr. According to the Saudi Press Agency, festivities are set to take place across various locations, including the … Read more
Startup Wrap – OSN+, AhnLab, and Mubashir among firms to see funding success during Ramadan CAIRO: Startups in the Middle East and North Africa region have closed Ramadan and started Eid Al-Fitr on a positive note as venture activity continued. Among the most significant announcements during the holy month was UAE-based online streaming platform OSN+ and … Read more
RIYADH: With twinkling lights turned on and the smell of freshly fried samosas in the air, Muslim and non-Muslim expat households across the Kingdom join in observing the holy month of Ramadan, marked by its spiritual nature and family-centric values Expats share both their excitement and expected challenges as they observe Ramadan away from home. … Read more
JEDDAH: In the holy month of Ramadan, the tradition of breaking fast with dates is deeply ingrained in the fabric of the Muslim society, making this iconic fruit a staple on the iftar spread. Prophet Muhammad said: “When one of you breaks his fast, let him break it with dates, for they are a blessing; … Read more
RIYADH: Top Saudi banks demonstrated strong performances in 2023, with operating income growing by 9.5 percent, driven by non-interest revenue, according to professional services firm Alvarez & Marsal. The results of A&M’s fourth annual Kingdom of Saudi Arabia Banking Pulse for the 12-month period revealed a resilient and thriving financial sector with notable increases in key metrics. “The performance of the … Read more
Empowering women for a prosperous and healthy planet on International Women’s Day DUBAI: Although the Arab world has a long way to go before it achieves gender parity, recent reforms in Saudi Arabia have already transformed women’s participation in the labor force, business and leadership, while promoting economic growth and sustainable development. The pursuit of … Read more
RIYADH: Saudi Arabia emerged as a significant player in the startup ecosystem this February, raising $16.3 million, making it the second-highest amount secured by any country across the Middle East and North Africa. According to Wamda’s monthly investments report for the region, the Kingdom secured the funding across seven transactions, marking a 48.18 percent increase from … Read more
JEDDAH: Nestled in the heart of Jeddah’s historic district are heritage hotels launched by the Jeddah Historic District Program under the patronage of the Ministry of Culture and in partnership with Al-Balad Development Co. These hotels, including Beit Jokhdar, Beit Al-Rayess and Beit Kedwan, have been meticulously restored while preserving their architectural features to provide … Read more
RIYADH: The Saudi capital finds itself in global competition with cities like New York and Tokyo for a skilled workforce, according to its mayor. With a population exceeding 7 million, the city is experiencing an ongoing transformation as it becomes a hub for attracting talent and boosting entrepreneurship. In an interview with Arab News at … Read more